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                                    UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION
                                 WASHINGTON, DC 20549

                                     FORM 10-K/A

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997

                                          OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934
                    FOR THE TRANSITION PERIOD FROM _______TO______

                            COMMISSION FILE NUMBER:0-9160

                            INTEK DIVERSIFIED CORPORATION
                (Exact name of Registrant as specified in its charter)


                  DELAWARE                          04-2450145
           (STATE OF INCORPORATION)               I.R.S. EMPLOYER
                                                IDENTIFICATION NUMBER

       214 CARNEGIE CENTER, SUITE 304               08549-6237
             PRINCETON, NEW JERSEY   
    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICE)         (ZIP CODE)

          Registrant's telephone number, including area code: (609) 419-1222

           Securities registered pursuant to Section 12(b) of the Act: NONE

             Securities registered pursuant to Section 12(g) of the Act:
                             COMMON STOCK $.01 PAR VALUE
                                (Title of Each Class)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding twelve months, and (2) has been subject to such filing
requirements for the past 90 days.
                                  Yes   X   No
                                       ---     ---

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K (229.405 of this chapter) is not contained herein, and will
not be contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K.  [   ]

As of December 31, 1997, the aggregate market value of voting stock held by
non-affiliates was approximately $17,116,747. The number of shares outstanding 
of the Registrant's Common Stock was 41,973,946 as of December 31, 1997.



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ITEM 6.   SELECTED FINANCIAL DATA

     The following data is derived from the Company's audited financial and
should be read in conjunction with the Consolidated Financial Statements and
Notes thereto appearing elsewhere herein.

                                                  YEAR ENDED SEPTEMBER 30,
                                             (THOUSANDS, EXCEPT  SHARE AMOUNTS)
                                               1997        1996         1995
                                               ----        ----         ----
STATEMENT OF OPERATIONS DATA:
  Total Revenues (1)                          $42,284      $23,899     $32,601
  Total Costs and Expenses                     68,222       34,317      33,997
  Operating Loss                             (25,938)     (10,418)     (1,396)
  Net Loss                                   (26,999)      (9,089)     (1,171)
  Loss applicable to Common Shareholders    $(27,999)     $(9,089)    $(1,171)
  Net Loss Per Share applicable to Common
    Shareholders                              $(0.74)      $(0.36)     $(0.05)
  Weighted Average Number of
    Shares Outstanding                     37,885,371   25,000,000  25,000,000
BALANCE SHEET DATA:
  Total Assets                               $112,565      $50,253     $37,463
  Working Capital                              21,289      (5,268)       3,538
  Long Term Debt                               45,136       32,837      23,187
  Shareholders' Equity (Deficit)              $54,289    $(21,289)   $(12,949)

RECENT SALES OF UNREGISTERED SECURITIES

     On August 27, 1997, under Section 4(2) of the Securities Act of 1933, as 
amended, the Company issued 300,000 shares of Common Stock to Robert J. 
Shiver, Chairman and Chief Executive Officer of Intek, pursuant to his 
employment agreement, and in partial consideration of his services as an 
officer of Intek.

(1)  See Note 2a "Summary of Significant Accounting Policies -- Principles of 
     Consolidation" in Consolidated Financial Statements and Notes thereto 
     appearing elsewhere herein.
                               

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                                      SIGNATURES

          Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized, on January 15, 1998.

                                             INTEK DIVERSIFIED CORPORATION


                                             By: /s/ D. Gregg Marston
                                                 -------------------------
                                                 D. Gregg Marston
                                                 Chief Accounting Officer





                               

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                                  INDEX TO EXHIBITS

Exhibit No.                                                            Page No.
-----------                                                            --------

3.1(i)         Articles of Incorporation of Intek Diversified              (2)
               Corporation (the "Registrant").

3.1(ii)        By-Laws of the Registrant.                                  (2)

10.1           Employment Agreement dated as of September 8, 1997          (1)
               between Intek Diversified Corporation and Robert J. Shiver

10.2           Employment Agreement dated as of February 18, 1997,         (1)
               by and between Intek Diversified Corporation and Lee R.
               Montellaro.

10.3           Employment Agreement dated as of April 21, 1997, by and     (1)
               between Intek Diversified Corporation and Donald Goeltz.

10.4           Second Amended and Restated Loan Agreement dated as of      (1)
               December 29, 1997, between Intek Diversified Corporation
               as Borrower and Securicor Communications Limited as Lender.

10.5           Promissory note dated December 29, 1997,                    (1)
               in the amount of $29,500,000 made by Intek Diversified
               Corporation to the order of Securicor Communications
               Limited.

10.6           Preferred Stock Purchase Agreement dated as of December     (1)
               29, 1997, between Intek Diversified Corporation and
               Securicor Communications Limited.

10.7           Loan and Security Agreement dated December 24, 1997,        (1)
               by and between Summit Commercial/Gibraltar Corp., as
               Lender and Midland USA, Inc., as Borrower.

10.8           Subordination Agreement dated December 24, 1997,            (1)
               by and among Intek Diversified Corporation and Summit 
               Commercial/Gibraltar Corp.

10.9           Termination and Release dated as of December 29, 1997,      (1)
               between Intek Diversified Corporation and Securicor 
               Communications Limited.

11             Statement re computation of per share earnings.             (4)

12             Statement re computation of ratios.                         (4)

21             Subsidiaries.                                               (1)

23.1           Consent of Arthur Andersen LLP.                             (1)

23.2           Consent of Baker Tilly.                                     (1)

27             Financial Data Schedule.                                    (1)



(1)       Included in this Report.
(2)       This exhibit is contained in the Registrant's Annual Report on Form
          10-K for the year ended December 31, 1994, filed with the Commission
          on April 17, 1995 (Commission File No. 0-9160), and incorporated
          herein by reference.
(4)       Not applicable.